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>> it looked like president obama was not prepared. >> the industry e champion did take off today. >> by the way, i like coal. >> as long as he doesn't say anything like this. >> i was in bangkok myself and mark, i didn't see you in the disco. >> well that was the lowest class of all. >> fast money, right now. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often do
>> it looked like president obama was not prepared. >> the industry e champion did take off today. >> by the way, i like coal. >> as long as he doesn't say anything like this. >> i was in bangkok myself and mark, i didn't see you in the disco. >> well that was the lowest class of all. >> fast money, right now. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to...
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democrats were not so thrilled with president obama's performance. the question is going to be has mitt romney been able in a race where he's been clearly behind the president to hurt him enough and sustain that momentum over the next three weeks. that's what's really critical. there have been strong debates, john kerry had a strong debate against george w. bush in 2004. but he wasn't able to translate that into lasting benefit. that's the best of the next three weeks, to see whether romney can keep it going or whether president obama comes out with a higher level of aggression, higher level of energy in the next debate and stop the momentum that romney accumulated last night. >> okay. yeah, i had so many different thoughts, john, as we watched the whole thing. i remember that a lot of republicans were supporting newt gingrich because just for this moment, they wanted -- they thought newt was such a great debater, they wanted to see someone like newt talk to president obama about his policies and about the last four years. and they thought newt would
democrats were not so thrilled with president obama's performance. the question is going to be has mitt romney been able in a race where he's been clearly behind the president to hurt him enough and sustain that momentum over the next three weeks. that's what's really critical. there have been strong debates, john kerry had a strong debate against george w. bush in 2004. but he wasn't able to translate that into lasting benefit. that's the best of the next three weeks, to see whether romney can...
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. >> in july 2010, president obama signed the dod-frank act. it addresses many of the regulatory lapses in the commodities market. among other things, it limits the amount of commodity futures that speculators can hold. it makes it easier for the commodities future trading commission to investigate suspected market manipulation, and it empowers the agency to regulate energy derivatives, which enron used to drive up the price of electricity in california. [ticking] coming up, a herculean effort to find oil in a desert wilderness. >> the logistics are impossible. the first thing we had to do is build our own road in order to access this field. >> just to get here. >> just to get here. once that was done, we had to remove 100 million cubic feet of sand just to make the runway. >> that's when 60 minutes on cnbc returns. [ticking] two years ago, the people of bp made a commitment to the gulf. and every day since, we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover
. >> in july 2010, president obama signed the dod-frank act. it addresses many of the regulatory lapses in the commodities market. among other things, it limits the amount of commodity futures that speculators can hold. it makes it easier for the commodities future trading commission to investigate suspected market manipulation, and it empowers the agency to regulate energy derivatives, which enron used to drive up the price of electricity in california. [ticking] coming up, a herculean...
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could be good news for president obama. keep those gas prices in the swing states low, mandy. >> absolutely. that's what counts. >>> so, mitt romney celebrating today after what many are calling a big victory in last night's debate. the market has been paying very close attention, as you could imagine, to the race with many already pricing in an obama victory. so what does a romney resurgence mean to your money? joining us now, paul hickey, co-founder of the spoke investment group and on the back of the way the people perceived the debate last night, we're seeing a little bit of reaction in certain sectors for the potential after romney win. but i want to know what you think is going to be a winner. >> i think a romney win, one area that would benefit -- medical device companies. there is hope if romney's elected and repeels the affordable care act, then the device tax will be repealed helping out these companies. that tax will pretty much go right down to their bottom line if it is taken away. so that's a nice 3% to 5% ben
could be good news for president obama. keep those gas prices in the swing states low, mandy. >> absolutely. that's what counts. >>> so, mitt romney celebrating today after what many are calling a big victory in last night's debate. the market has been paying very close attention, as you could imagine, to the race with many already pricing in an obama victory. so what does a romney resurgence mean to your money? joining us now, paul hickey, co-founder of the spoke investment...
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right now the vote is 60%-40% in favor of president obama over mitt romney. jetblue's giving away 2012 seats or 1,006 round trips. you'll obviously have to pay your taxes and fees which as we well know, sometimes can be more in total than the price of the ticket itself by the time you pay maybe $100 at the gate for checking in your bag, plus various other things like a sandwich. >> is that vote for people you don't want to win? because if your candidate loses -- >> if the other guy wins -- if i'm a huge obama supporter, romney wins, i might be eligible to -- >> i think at the end of the day, it is supposed to be fun. >> let me correct you. there is nothing about flying that is fun especially when you're over 5'0" tall. or $6 6'0". >>> pretty remarkable run in the home builder stocks today, mandy. "wall street journal" article discussing the dampened momentum in the apartment rental market may be partly a function of the rebound that we're seeing in housing demands. that's the silver lining to the story. take a look at some of those home builder stocks moving
right now the vote is 60%-40% in favor of president obama over mitt romney. jetblue's giving away 2012 seats or 1,006 round trips. you'll obviously have to pay your taxes and fees which as we well know, sometimes can be more in total than the price of the ticket itself by the time you pay maybe $100 at the gate for checking in your bag, plus various other things like a sandwich. >> is that vote for people you don't want to win? because if your candidate loses -- >> if the other guy...
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later obama versus romney. when it comes to the economy who is the better bet? we will give you some answers. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. accolade overdrive. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> time for pops and drops. we kick it off with a drop for lex mark. >> people not buying a printers not a good thing. it didn't help with lex mark. they fall better than 3%. >> fdl a pop. 3%. >> a little more on the earnings. the margin pressure might be ending this quarter. i still think they are seeing a lot
later obama versus romney. when it comes to the economy who is the better bet? we will give you some answers. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and...
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one, he has to convince that president obama has not delivered. second, he has to convince the american people he can deliver. so he has to do it both things. there's still some heavy sledding for him on both fronts. in terms of the market, i think that over the next few weeks and months we're basically going to be driven not only by the political process but whether we get data that confirms the handoff from central bank action to fundamentals will happen. otherwise, this wedge that the central bank have created between valuations of fundamentals cannot be sustained forever. fundamentals have got to start coming up towards valuations, otherwise valuations will come down. >> mohammed, thank you so much for joining us today. >> thank you, michelle. >> all right. we've got about 51 minutes before the closing bell. the nasdaq is lower by nearly 14 points. >> don't go anywhere. there's still a lot more ahead on this busy friday edition of the "closing bell." >>> coming up, employment possibility. 58% of ceos say they plan to hire more workers within t
one, he has to convince that president obama has not delivered. second, he has to convince the american people he can deliver. so he has to do it both things. there's still some heavy sledding for him on both fronts. in terms of the market, i think that over the next few weeks and months we're basically going to be driven not only by the political process but whether we get data that confirms the handoff from central bank action to fundamentals will happen. otherwise, this wedge that the...
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beginning of the year you said you expected president obama to be re-elected. do you still believe that? >> yes. yes. i really do. i think that he was maybe two scores up as i heard on "squawk box" this morning. maybe now it is only one. i still think in terms of looking at these battleground states and where he appears to have a competitive advantage, he's still ahead. >> you were extremely accurate in your overall call, at least as of this date, of how the market was going to perform. you said about 15% in 2012. that's about where we are. is now a good time to invest? and then what's going to happen in 2013. >> i would be much more cautious now. we divided our analysis of the market into two parts. there's the things people normally talk about, growth rates and earnings and the economy, but also the discount rate. the interest rate plus this other fear or uncertainty factor. the fed's actions did reduce the uncertainty factor. they reduced the liquidity that took some of that fear away. but it's not really transferring into growth. if you do the high school l
beginning of the year you said you expected president obama to be re-elected. do you still believe that? >> yes. yes. i really do. i think that he was maybe two scores up as i heard on "squawk box" this morning. maybe now it is only one. i still think in terms of looking at these battleground states and where he appears to have a competitive advantage, he's still ahead. >> you were extremely accurate in your overall call, at least as of this date, of how the market was...
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that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have done it. i really did kick myself at this one. i thought if i recommended it, the stock would go up too much. ron in louisiana. ron? >> caller: jim. i've got to thank you. you're the best. i've been investing for 55 years and didn't make money until the last five. guess why? jim cramer. >> thank you. thank you. >> caller: thank you. jim, my question to you is will tim geithner's message to aig affect the long-term outlook? and if so, up or down? >> i would not worry about tim geithner when it comes to aig. just worry about mr. benmosche and what he's doing. carolyn in florida. carolyn
that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have...
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> as we hit new record mortgage rates, i just sat down with the ce
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm...
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obama wasn't in shape to do it tonight. i'm sure obama knows. this he couldn't get it out tonight for some reason. and also, on the deficit side, and on economic statistics in general, here's romney firing out statistics. what you saw was a guy who looked calm, who looked presidential and who was knowledgeable and highly informed. >> and practiced. >> i don't think people were expecting romney to be as good as he was tonight. >> he was strong. >> john harwood? >> i just wanted to say i think romney was fluent. his argumentation was good. the body language was good. he looked happier than president obama on the stage. obama spent a lot of time on the defensive. however, i don't think we've got any new specifics from either candidate tonight. mitt romney talked about the goals that he has articulated and he articulated in the convention speech. president obama did the same thing. i don't think anyone put new policy on the table tonight. >> one thing i'll say though on this point, we covered the convention in tampa bay. i was very unhappy with romn
obama wasn't in shape to do it tonight. i'm sure obama knows. this he couldn't get it out tonight for some reason. and also, on the deficit side, and on economic statistics in general, here's romney firing out statistics. what you saw was a guy who looked calm, who looked presidential and who was knowledgeable and highly informed. >> and practiced. >> i don't think people were expecting romney to be as good as he was tonight. >> he was strong. >> john harwood? >> i...
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dodd-frank same thing, obama care similar. there's this cadre of people writing the laws of our country without input from at least half the country. >> what's the most important thing you think needs to be tackled head on. you think the fiscal cliff is the first issue? >> there are a multiple of issues that have to be acted on and obviously the fiscal cliff is a very important one. the trouble is the fiscal cliff is probably too easy to solve and kick down the road, and so therefore i doubt we would be in the fiscal cliff. i'm not sure, to be honest with you, that a fiscal cliff falling off the edge is not exactly what america needs. >> is this a wake-up call do you think at this point? it's a pretty severe wake-up call to get. >> you're describing a wake-up call to rip van winkle. how many years have we been kicking the khan down the road. that's a wake-up call for rip van winkle, somebody who has been sleeping for a multitude of years. >> you're suggesting play with fire a little bit? >> i'm suggesting that i'm interested i
dodd-frank same thing, obama care similar. there's this cadre of people writing the laws of our country without input from at least half the country. >> what's the most important thing you think needs to be tackled head on. you think the fiscal cliff is the first issue? >> there are a multiple of issues that have to be acted on and obviously the fiscal cliff is a very important one. the trouble is the fiscal cliff is probably too easy to solve and kick down the road, and so...
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bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between john kerry who might have done himself some good with his speech at the democratic national convention, and susan rice is somebody who is often mentioned. now, this recent flap over libya and what the united states said or did not say about the situation there might have damaged her prospects a little bit. we'll have to watch that one, on the romney side robert zoellick, former world bank president and richard haass, president of the council of foreign relations mention there had and treasury secretary we talked about some of the names for the oba
bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between...
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by the same token, romney can go after obama because obama's talked about reducing the corporate rate to 28%, but he hasn't specified how he'd pay for it. and then you have the issue of jobs. romney talks about the job record on net from the beginning of president obama's term. and if you do that, it's just about even. maybe a few jobs in the positive territory. but barack obama talks about what's happened since early 2010 since the turnaround started. they'll clash on that. on medicare, the big entitlement spending issue that threatens the bunch the long term. mitt romney's proposed with paul ryan an ambitious reformation of the program that would go to voucher, but he hasn't said what the level of the voucher would be or the growth rate in the voucher. if you don't specify that, you can't specify what your savings will be or the impact on consumers. and finally president obama last year in the grand bargain talks with house speaker boehner talked about more ambitious proposals than medicare than he's advocated so far like raising the eligibility age from 65 to 67. hasn't said a word
by the same token, romney can go after obama because obama's talked about reducing the corporate rate to 28%, but he hasn't specified how he'd pay for it. and then you have the issue of jobs. romney talks about the job record on net from the beginning of president obama's term. and if you do that, it's just about even. maybe a few jobs in the positive territory. but barack obama talks about what's happened since early 2010 since the turnaround started. they'll clash on that. on medicare, the...
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he has a little bit, $50 billion from seniors and obama care to pay for some of obama care, but the rest of it will have to be covered by cost reduction, which he's fought every step of the way for taxes. >> i wonder, howard, can you -- is it possible to win the argument where you say, all right, i'm rich, i got, you know, i've got an elevator for my cars. i know how to fix this and make it good for the middle class and look like -- maybe you're not as attached to the empathy, or is it better to be the president and say i really care, i just don't know how to do anything. >> neither one of them is good. look, the reason the numbers have gotten so much better for obama in terms of who is the best deal for the economy, whoever thought that would be even at this point. is simply because people think the president cares about them and they don't think that about mitt romney. >> incompetent doesn't help. >> we really have gained 4 million jobs, i grant you from the down -- >> no business experience in his administration, doesn't seem to be private-sector oriented, more interested in governmen
he has a little bit, $50 billion from seniors and obama care to pay for some of obama care, but the rest of it will have to be covered by cost reduction, which he's fought every step of the way for taxes. >> i wonder, howard, can you -- is it possible to win the argument where you say, all right, i'm rich, i got, you know, i've got an elevator for my cars. i know how to fix this and make it good for the middle class and look like -- maybe you're not as attached to the empathy, or is it...
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if obama wins, we're going to go over the fiscal cliff because the republicans and obama aren't going to agree, we'll go out there and roll back the bush tax cuts, we're going to do this, have sequestered stuff or whatever and so that's going to hurt. >> how would he triangulate if he wins and they lose some of the house, say the democrats keep the senate, how would he triangulate to work with the other side? you don't think he'd let them go for another year or two? >> eventually he's going to have to, but he's going to get pushed into it and things are going to happen that are going to scare the heck out of us before we get there. >> what if romney, how does he screw it up? >> if romney wins it will look like, the stock market is going to say this is great, go up for a little while and people are going to say wait a second, this is austerity. it's going to look like the uk, look like europe. >> because we're 25% of gdp, he's not going to let us stay there, right? >> exactly. >> you'd see many more cuts if he's in, is that good long-term? >> much better long-term. you could argue that
if obama wins, we're going to go over the fiscal cliff because the republicans and obama aren't going to agree, we'll go out there and roll back the bush tax cuts, we're going to do this, have sequestered stuff or whatever and so that's going to hurt. >> how would he triangulate if he wins and they lose some of the house, say the democrats keep the senate, how would he triangulate to work with the other side? you don't think he'd let them go for another year or two? >> eventually...
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didn't have to argue this would be an obama rally. >> i would think so. same people who were trying to push the victory leading to the prices yesterday how do they figure the unemployment numbers here. so what we're really seeing and i wrote about it in my comments this morning, is we're still going by europe is driving the bus. and yesterday was moving up. could you see some romney influences? the coal companies that he mentioned and some of the health care people and you can see some of the obama influences. but that's kind of the backdrop. the reason why the numbers look disproportional says a blot our mrk markets being illiquid. >> what does it mean about merkel going to greece. is that pivotal? >> i'm not sure unless there's a surprise. poor greece is out there festering. everybody is concentrating on spain. greece has not been solved. would be good to solve it. but that doesn't change anything about spain which is a much bigger factor and spain brings in the challenge of italy behind it. so that the game has moved up field a little bit here. so, you
didn't have to argue this would be an obama rally. >> i would think so. same people who were trying to push the victory leading to the prices yesterday how do they figure the unemployment numbers here. so what we're really seeing and i wrote about it in my comments this morning, is we're still going by europe is driving the bus. and yesterday was moving up. could you see some romney influences? the coal companies that he mentioned and some of the health care people and you can see some of...
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. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on the senate outcome. but wiser minds will see the wisdom of helping the fed in its efforts to stimulate asset prices by not onerously raising taxes on the most important asset class other than homes. >> have you actually calculated a number? you said it would give back some of the rally. but is there a number or a percentage? >> 12-month price target is 1,500. we've written in our research that 1,600 would be a reasonable 2013 end. i need to see an acceleration in global growth. >> contingent on both, not just the tax issue? >> both. somewhere between 1,500 and 1,600. >> david, thank you for being with us. >>
. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on...